It is a system that allows real-time monitoring of various values and variables, being able to collect all the metrics and characteristics of an asset exactly, which are sent to the system operator.
Generally, its use allows the optimization of the processes and actions on which the correct operation of a business depends, collaborating with asset management and improving all security systems.
Its general uses
It is used in large systems such as chemical plants, electricity supply networks, gas supply networks, among other companies that provide public services, as it facilitates automatic monitoring, the recording of measurements, the sending of alerts or alarms to the control center, in order for the operation to be efficient and safe.
Can telemetry be used in the insurance industry?
It is used especially in the vehicular branches, since this allows multiple benefits such as:
- The monitoring of each of the insured cars in real time and automatically.
- It allows insurers to analyze the behavior of their drivers, providing warnings and the creation of warning systems for unsafe behavior behind the wheel.
We explain better with an example:
Let’s imagine a company that can create a system capable of sending alerts directly to the dashboard of your vehicle, notifying about the quality of fuel, engine oil and also if there are changes in the climate of the usual route or in the behavior of the car.
In the same sense, the monthly price of a vehicle insurance can be valued, just by monitoring the insured’s driving style or even establishing a fixed value based on the metrics that the system shows according to the way in which they drive.
This technology can also be used in the home insurances, allowing it to even detect theft, locate objects, detect suspicious movements, control weights and much more.
In the same sense, we can mention that it allows monitoring liquid levels, fluid parameters such as temperature, pressure, flow rates, even detecting dangerous gases (Something that can help prevent fires, for example). It has even been said that telemetry can prevent when natural disasters can occur. The foregoing translates into a springboard of opportunities worldwide for the insurance industry, as this would lead to enormous growth, competitiveness and within reach of a greater range of policyholders.